John M Taylor (Paisley) Ltd. - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: SC367458 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

JOHN M TAYLOR (PAISLEY) LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Hamilton

I J Barr

S D Sutherland

REGISTERED OFFICE:

9 Glasgow Road

Paisley

Renfrewshire

PA1 3QS

REGISTERED NUMBER:

SC367458 (Scotland)

ACCOUNTANTS:

John M Taylor & Co

Chartered Accountants

9 Glasgow Road

PAISLEY

Renfrewshire

PA1 3QS

FIXED ASSETS

-

Intangible assets

4

-

25,340

Tangible assets

5

23,156

25,340

23,156

CURRENT ASSETS

708,259

Debtors

6

675,416

213,701

Cash at bank and in hand

186,663

921,960

862,079

CREDITORS

311,656

Amounts falling due within one year

7

267,444

610,304

NET CURRENT ASSETS

594,635

635,644

TOTAL ASSETS LESS CURRENT LIABILITIES

617,791

CREDITORS

(342,500

)

Amounts falling due after more than one year

8

(335,812

)

(4,608

)

PROVISIONS FOR LIABILITIES

(4,096

)

288,536

NET ASSETS

277,883

CAPITAL AND RESERVES

42,106

Called up share capital

9

42,106

17,901

Share premium

17,901

228,529

Retained earnings

217,876

288,536

SHAREHOLDERS' FUNDS

277,883

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 December 2022 and were signed on its behalf by:

J Hamilton - Director

I J Barr - Director

S D Sutherland - Director

1.	STATUTORY INFORMATION

John M Taylor (Paisley) Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The significant policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover represents the fair value of professional services provided during the period to clients . Turnover is recognised as contract activity and the right to consideration earned.

Fair value represents the amount expected to be recoverable from clients and is based on time spent, skills

and expertise provided, excluding value added tax.

Turnover which has been recognised but not invoiced by the balance sheet is included in debtors as ''Amounts recoverable on contracts'.

Goodwill

Goodwill, being the amount arising on acquisitions, and representing any excess of the fair value of the consideration given and associated costs over the fair value of the identifiable assets and liabilities acquired. Positive goodwill is amortised on a straight line basis over its expected useful life.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Financial instruments

Basic financial instruments are recognised at amortised cost. Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic activity.

Taxation

Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period which the liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2021 - 20 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2021

and 31 March 2022

274,583

AMORTISATION

At 1 April 2021

and 31 March 2022

274,583

NET BOOK VALUE

At 31 March 2022

-

At 31 March 2021

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

Totals

fittings

equipment

£

£

£

COST

At 1 April 2021

128,669

13,476

115,193

Additions

11,488

-

11,488

Disposals

(52,686

)

-

(52,686

)

At 31 March 2022

87,471

13,476

73,995

DEPRECIATION

At 1 April 2021

103,329

9,256

94,073

Charge for year

13,672

2,533

11,139

Eliminated on disposal

(52,686

)

-

(52,686

)

At 31 March 2022

64,315

11,789

52,526

NET BOOK VALUE

At 31 March 2022

23,156

1,687

21,469

At 31 March 2021

25,340

4,220

21,120

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

341,855

373,860

Amounts recoverable on contracts

307,126

320,064

Other debtors

26,435

14,335

675,416

708,259

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans and overdrafts

9,748

7,500

Trade creditors

19,186

11,852

Taxation and social security

132,951

180,344

Other creditors

105,559

111,960

267,444

311,656

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans

33,772

42,500

Other creditors

302,040

300,000

335,812

342,500

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.22

31.3.21

value:

£

£

40,000

'A' Ordinary

£1

40,000

40,000

2,106

'B' Ordinary

£1

2,106

2,106

42,106

42,106

10.	ULTIMATE CONTROLLING PARTY

The directors control the company as a result of controlling directly between them 100% of the issued ordinary share capital.